Valuation equilibrium and Pareto optimum in non-convex economies (Q1113784)
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scientific article; zbMATH DE number 4081245
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Valuation equilibrium and Pareto optimum in non-convex economies |
scientific article; zbMATH DE number 4081245 |
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Valuation equilibrium and Pareto optimum in non-convex economies (English)
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1988
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We report an extension of the second welfare theorem when both convexity and differentiability assumptions are violated. Our model allows various formalization of the marginal rule and considers the general setting of a topological vector space of commodities.
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valuation equilibrium
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Pareto optimum
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non-convex economies
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Clarke's normal cone
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second welfare theorem
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marginal rule
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topological vector space of commodities
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